Use Table: National Income Accounts. The value of national savings is: Table 1: National Income Accounts $ Trillions GDP 20.00 Consumption 14 Government Spending 3 Budget Balance -1.2 a) $14 trillion b) $3 trillion c) $3.5 trillion d) $0.2 trillion e) $3.2 trillion.
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- Country A has export sales of 20 billion, government purchases of 1,000 billion, business investment is 50 billion, imports are 40 billion, and consumption spending is 2,000 billion. What is the dollar value of GDP?1. Suppose you are given the following data: Government Purchases $ 6.0 billion Imports $ 0.3 billion Transfer Payments $ 2.3 billion Consumption $11.9 billion Depreciation $ 2.2 billion Exports $ 0.5 billion Investment $ 3.7 billion Taxes $ 6.4 billion a) Calculate the value of government public savings. b) Calculate the value of household private savings. (1. Calculate the disposable income from the following table: Flows in the economy of Classica $10 trillion $10 trillion $7 trillion $1 trillion $2 trillion Total Output (GDP) Total Income Consumption Spending (C) Private Investment (I) Government Purchases (G) Net Taxes (T) Household Savings (S) $1.25 trillion S1.75 trillion
- 2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,800 million. Enter the amount for government purchases. National Income Account Value (Millions of dollars) Government Purchases (G�) Taxes minus Transfer Payments (T�) 585 Consumption (C�) 675 Investment (I�) 675 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (�) = = G - TG - T = = I� million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = = = = million Public SavingPublic…1. The following table shows the National Income data for a country in a year 2019 Items RM billion Public consumption expenditures 71 Personal consumption 11 Public investment 3 Personal investment 5 Change in stock 14 Factor income received from 3 abroad Factor income paid abroad 2 Net export 13 Indirect taxes 2 EPF 3 Subsidies 1 SOCSO 1 Transfer payment 8 Income tax 2 Retained earning 1 Insurance premium 1 Based on the table above, calculate :- a. Gross Domestic Product at market price (GDP mp) b. Gross National Product at market price (GNPmp) c. Gross National Product (GNP fc) at factor cost d. National Income e. Personal income f. Disposable personal incomeAccording to the table, investment is: Autonomous with respect to disposable income shift up Determined by bureaucrats slope upward Responsive to changes in disposable income slope downward Responsive to changes in foreign incomes shift down A decrease in interest rates would cause the investment function you drew previously to
- 44. Which component of GDP will increase if disposable income increases? a. Government spending b. Investments c. Consumption d. Net exports2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,680 million. Enter the amount for investment. National Income Account Value (Millions of dollars) Government Purchases (GG) 400 Taxes minus Transfer Payments (TT) 360 Consumption (CC) 1,000 Investment (II) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (S) = = = = million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = = = = million Public SavingPublic Saving = =…43. The table below shows aggregate values for a hypothetical economy. Suppose this economy has real GDP equal to potential output. Potential GDP $14 000 Government purchases $2100 Investment $300 Consumption $10 000 Net tax revenues $2000 TABLE 25-3Refer to Table 25-3. What is the level of national saving for this economy? $2000 $1900 $1800 $2500 $1500
- 20. Which of the following represents the measurement of GDP as the sum of consumption expenditures, investment, government purchases of goods and services, and net exports? a.Wealth approach b.Income approach c.Expenditure approach d.Saving approach3. Categories of expenditures Dmitri and Frances Doherty live in Conshohocken, PA. Their son, Jake, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Dmitri's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway: 23, which feeds into the center of Conshohocken, Frances gets a new video camera made in the United States. Dmitri buys a sweater made in Guatemala. Jake buys a new set of tools to use in his plumbing business. с 00 I O O G O X 0 M O O 0 000 00 000 0001. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,110 million. Enter the amount for investment. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) = Value (Millions of dollars) 300 240 600 $ million
